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DTE Energy (DTE) to Report Q2 Earnings: What's in the Cards?
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DTE Energy Company (DTE - Free Report) is scheduled to release second-quarter 2024 results on Jul 25, before market open. This utility company delivered a negative earnings surprise of 2.34% in the last reported quarter.
The company’s trailing four-quarter negative earnings surprise is 1.22%, on average. Let’s discuss the factors that are likely to have affected the upcoming quarterly results.
Factors to Consider
DTE’s service territories experienced above-normal temperature patterns for the majority of the second quarter. This is likely to have boosted electricity demand from its customers for cooling purposes this spring, which is expected to have contributed favorably to its quarterly revenues.
Solid sales performance, along with lower storm restoration costs and cost reduction efforts are likely to have boosted the company’s earnings growth. However, higher rate base costs are expected to have had some adverse impact on the overall bottom-line performance.
Q2 Expectations
The Zacks Consensus Estimate for DTE’s second-quarter sales is pegged at $2.83 billion, which indicates an increase of 5.4% from the year-ago reported number.
The consensus estimate for second-quarter earnings is pegged at $1.19 per share, which implies an improvement of 20.2% from the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for DTE Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat, which is not the case here as seen below.
Earnings ESP: The company’s Earnings ESP is +2.81%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently, carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
NiSource Inc. (NI - Free Report) is likely to report an earnings beat when it announces second-quarter results. It has an Earnings ESP of +4.00% and a Zacks Rank of 2 at present. You can see the complete list of Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $1.18 billion, which indicates 7.9% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 18.2%.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +3.50% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $6.26 billion, which indicates 9% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 17.7%.
CMS Energy Corporation (CMS - Free Report) is likely to report an earnings beat when it announces second-quarter results on Jul 25. It has an Earnings ESP of +0.39% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $1.69 billion, which indicates 8.8% improvement from the year-ago quarter’s figure. The consensus estimate for earnings has increased 25.49% in the last 90 days.
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DTE Energy (DTE) to Report Q2 Earnings: What's in the Cards?
DTE Energy Company (DTE - Free Report) is scheduled to release second-quarter 2024 results on Jul 25, before market open. This utility company delivered a negative earnings surprise of 2.34% in the last reported quarter.
The company’s trailing four-quarter negative earnings surprise is 1.22%, on average. Let’s discuss the factors that are likely to have affected the upcoming quarterly results.
Factors to Consider
DTE’s service territories experienced above-normal temperature patterns for the majority of the second quarter. This is likely to have boosted electricity demand from its customers for cooling purposes this spring, which is expected to have contributed favorably to its quarterly revenues.
Solid sales performance, along with lower storm restoration costs and cost reduction efforts are likely to have boosted the company’s earnings growth. However, higher rate base costs are expected to have had some adverse impact on the overall bottom-line performance.
Q2 Expectations
The Zacks Consensus Estimate for DTE’s second-quarter sales is pegged at $2.83 billion, which indicates an increase of 5.4% from the year-ago reported number.
The consensus estimate for second-quarter earnings is pegged at $1.19 per share, which implies an improvement of 20.2% from the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for DTE Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat, which is not the case here as seen below.
DTE Energy Company Price and EPS Surprise
DTE Energy Company price-eps-surprise | DTE Energy Company Quote
Earnings ESP: The company’s Earnings ESP is +2.81%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently, carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same industry, which have the right combination of elements to post an earnings beat in their quarterly results.
NiSource Inc. (NI - Free Report) is likely to report an earnings beat when it announces second-quarter results. It has an Earnings ESP of +4.00% and a Zacks Rank of 2 at present. You can see the complete list of Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $1.18 billion, which indicates 7.9% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 18.2%.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 1. It has an Earnings ESP of +3.50% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $6.26 billion, which indicates 9% improvement from the year-ago quarter’s figure. The consensus estimate for earnings indicates year-over-year growth of 17.7%.
CMS Energy Corporation (CMS - Free Report) is likely to report an earnings beat when it announces second-quarter results on Jul 25. It has an Earnings ESP of +0.39% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $1.69 billion, which indicates 8.8% improvement from the year-ago quarter’s figure. The consensus estimate for earnings has increased 25.49% in the last 90 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.